30th Apr 2015 12:22
LONDON (Alliance News) - Pires Investments PLC Thursday said it hopes its investments will show positive returns in its current period of trading, while the company is also reviewing its expenses and "options for expanding its capital base".
The company has invested in a rage of businesses, including AIM-listed Rame Energy PLC, investing companies Armstrong Ventures PLC and 3 Legs Resources PLC, as well as in Kennedy Ventures PLC. It has established a subsidiary, Ventec Renewable Energy Ltd, to help it to work on renewable energy projects, "particularly in wind, in specific European markets with a view to acquiring or earning an equity position in such projects, working in partnership with a significant European wind consultancy/developer".
Pires Investments reported a loss before and after tax of GBP326,909 in the year ended October 31, 2014, compared with a loss before and after tax of GBP352,634 in the prior year.
Pires shares were down 7.7% at 0.0300 pence on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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